Your utility bills are going to rise — and soon. After some hefty campaigning from Pacific Power and Pacific General Electric (PGE), the two utility companies received the green light to increase their rates by 14.8%. The result is a sharp increase in utility across Oregon. For residents of Portland, the utility prices come in conjunction with the already-hefty cost of living increases that have affected the city, with prices jumping by 22% over the last decade.
Homeowners can save money in the face of these rapid increases by switching to renewable energy sources. Partnering with Portland solar installation companies can make the transition easy, allowing you to take control of your power bill with as few as four steps. Here’s everything you need to know.
Do Solar Panels Save You Money?
Yes, solar panels provide long-term cost savings. With an average lifespan of 25-30 years, these energy systems typically reach their break-even point within 5-7 years of installation. While the most significant savings might take a little time to materialize, you’ll have several decades to accumulate substantial cost savings on your energy bills. Essentially, you’ll be securing a fixed utility rate for life rather than facing increasing electricity expenses year after year. The exact amount of savings will depend on your total energy offset, but on average, solar system owners can expect to save tens of thousands of dollars throughout the lifespan of their solar system.
Portland Solar Incentives and Rebates
A big chunk of savings from solar panels comes from incentives and rebate programs, of which plenty exist. Many of the incentives come from the government, but solar installation companies provide other programs that reduce the upfront and total costs of financing solar panels. There are dozens of incentives available in Portland (and all of Oregon), but these are some of the biggest:
| Incentive | Description |
| Federal Tax Credit for Solar Photovoltaics | The Nationwide Solar Photovoltaics Tax Incentive, known as the Federal Tax Credit for Solar Photovoltaics, is accessible throughout the United States and offers a tax credit equivalent to 30% of a solar system’s installed cost. To claim this credit, individuals need to submit Form 5695 while filing their yearly taxes. |
| Solar Within Reach | Solar Within Reach is a rebate initiative specifically tailored for PGE and Pacific Power customers falling within specified income brackets, aiming to facilitate the affordable installation of solar panels. Eligible participants within these income brackets can receive a generous rebate, amounting to a maximum of $5,400 per household for PGE customers and up to $6,000 per household for Pacific Power customers. However, applicants must meet income criteria to qualify, which varies depending on the number of residents in the home. |
| Net Metering | Net metering presents a valuable opportunity for solar system owners to feed the surplus energy they produce into the electric grid, generating credits they apply to their bills. While the value of these net metering credits may change, they’re a substantial and cost-effective incentive for homeowners, helping them save significantly on their energy expenses. |
| Renewable Energy Systems Exemption | The Renewable Energy Systems Exemption blocks homeowners from paying higher property taxes due to home value increases from installing renewable energy systems. Solar panels increase property values by approximately 4% on average, which, without this exemption, could lead to a considerable tax hike for homeowners. However, homeowners can avoid such tax increases thanks to this exemption, fostering a favorable environment for adopting renewable energy systems. |
Other solar incentives are available in Portland, helping businesses and residential buildings save money while going solar. The DSIRE website includes a comprehensive list of available programs, and your solar installer may have additional incentive programs to apply for. For example, Purelight offers $0 down financing options, eliminating the upfront cost of installing solar panels. Click below to see if you qualify.
Cost of Solar Panels in Portland
Determining the exact cost of a solar panel system in Portland can be challenging, as the price varies based on system size, market conditions, and availability. Getting a quote is the best method to determine your costs and how much you stand to save from incentive programs. Your chosen solar installer will guide the entire process, including permitting and installation.
Common Factors Affecting Solar Installation
The uncertainty surrounding solar installation pricing arises from several significant factors that should be taken into account:
- Installation and Maintenance Costs: The overall cost of solar installations encompasses equipment, labor, and associated expenses. Additionally, ongoing maintenance costs guarantee the system’s optimal performance and longevity.
- Regulatory and Permitting Requirements: To install solar panels, you must comply with local building codes, zoning regulations and obtain the necessary permits.
- Grid Connection and Interconnection: If the solar system is connected to the electrical grid, the availability and proximity of the grid infrastructure, along with interconnection requirements, will influence the installation process.
- Roof Condition and Structural Suitability: Your roof’s condition and structural integrity are critical considerations since solar panels are typically installed on rooftops. A stable and durable surface is needed to support the weight of the panels, making a thorough assessment of the roof’s condition essential before installation.
Portland Solar FAQs
Solar panels are an excellent investment for homeowners. They generate a stable return on investment and tend to have decades-long lifespans, with most solar panel warranties covering 25 years of operation.
The length of a solar panel installation in Portland varies based on market factors such as supply shortages and demand. However, many solar installation companies try to limit the total process to 2-3 months, including design, permitting, and the installation itself. The installation itself should take no more than a few days.
Whether you’re basing the title of “best” on installation quality or customer reviews, Purelight Power takes the cake. Purelight emphasizes customer service and install quality, backing its work with industry-leading warranties and guarantees.
Portland is a leading city for solar panel installations, so there are plenty of installers to choose from. Shop for local installers, checking for local expertise, positive reputations, and workmanship quality. Don’t forget to ask about solar incentives either; solar installers know about virtually all of them, and they benefit both parties, so they’ll be more than willing to share that information.
If you’re still unsure where to start, Purelight can guide you through the process. Our industry-leading quality and workmanship guarantee peace of mind in your installation. Our team of solar experts emphasizes communication, so you’ll never feel left in the dark. If you want to know more, contact us today.
